The Exchange

November 6, 2026; 1pm: Kelly Evans breaks down a fragile market rebound after a strong jobs report as San Francisco Fed President Mary Daly says inflation remains the Fed’s top priority and more tightening may be needed. The episode also covers the AI sell-off, data center power demand, skilled labor shortages, Oklo’s nuclear roadmap and chip dip-buying.

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November 5, 2026; 1pm: The Exchange breaks down a severe AI-led market sell-off, with pressure across tech, semiconductors, data centers, neoclouds, financials and volatility. Guests debate whether the rout is a buying opportunity, a policy-driven recalibration, or a warning that AI growth expectations are shifting.

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November 4, 2026; 1pm: The Exchange breaks down the post-midterm market rally, with the Dow surging as investors weigh Democratic gains, AI data center policy risks, the Iran war fallout, housing, China, and defense spending. Kelly and guests examine why tech, homebuilders and industrials are moving, and what the results could mean for 2028 and beyond.

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November 3, 2026; 1pm: Kelly Evans breaks down oil’s pullback, renewed strength in AI and memory stocks, and how midterm election uncertainty could shape markets, data centers, and sector leadership. Guests discuss the outlook for Congress, Pfizer’s pipeline, China’s IPO pause, and where investors are finding opportunity beyond mega-cap tech.

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November 2, 2026; 1pm: The Exchange breaks down the AI stock sell-off, hyperscaler financing concerns, Apple’s agent risk, data center election politics, falling oil prices on Iran peace hopes, and midterm market setups. Kelly and guests examine whether tech can re-rate as free cash flow improves and how state ballot measures could affect municipal credit.

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October 30, 2026; 1pm: Live from the Shadow Fed Conference, Kelly discusses the tech sell-off, AI data center risks, and the Fed’s rate path with Howard Marks, Lou Crandall, Jason Trennert, Jeffrey Lacker, and James Bullard. The key takeaway: markets are repricing AI exuberance and renewed Fed tightening risk as inflation remains above target.

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October 30, 2025; 1pm: Brian breaks down Alphabet’s worst-day selloff as AI search pressures Google’s paid clicks, plus broader market jitters around Caterpillar, ServiceNow, Fortinet and the Fed. Guests discuss diversification, Raymond James’ record quarter, XPO’s diesel exposure, NextPower’s role in data center power demand and North Dakota’s state-owned bank.

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October 28, 2026; 1pm: Kelly Evans and Brian Sullivan lead CNBC’s special Fed coverage as markets price in a hold while guests weigh inflation, oil above $100, AI-driven growth, upcoming tech earnings and midterm election risks.

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Venture capitalist Logan Bartlett breaks down the good, the bad, and the ugly in Anthropic’s IPO prospectus. Where to put money to work outside of the AI trade. Plus, ahead of the October Fed decision, Greg Ip argues that interest rates “look kinda low.”  

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The key numbers in Anthropic’s public IPO filing. The trade ahead of Microsoft’s, Amazon’s and Google’s results as the busiest week of earnings season kicks off. Plus, David’s Bridal’s big AI bet. 

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